‘Simple relief’ for EWS, LIG defaulters

The Lucknow Development Authority (LDA) has announced that it will no longer charge compound interest from defaulter allottees of EWS and LIG houses and shops measuring up to 20 square metres. The LDA believes that the compound interest levied on installments and penalties is hindering the recovery of dues. The decision aims to provide relief to economically weaker sections of society. Additionally, the LDA has frozen the prices of flats being sold under the first-come-first-served scheme to increase demand.